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Trump’s ‘deal’ has made things even worse than they were

Mahmoud Abbas, the Palestinian president, and Ehud Olmert, Israel’s former prime minister, are due to meet at the United Nations in New York in the coming days to express their joint opposition to President Donald Trump’s controversial “deal of the century” to bring about an end to the world’s most intractable and divisive conflict.
The Trump plan, unveiled in the White House on January 28, has been widely condemned as likely to worsen relations between Israelis and Palestinians. It calls for the annexation by Israel of the Jordan Valley, the application of Israeli law to the settlements it has built since 1967 and for a Palestinian state broken up into disconnected enclaves – Bantustans - with its capital in the dreary East Jerusalem suburb of Abu Dis.
That Palestinian “state” in the West Bank – inverted commas are necessary to underline how meaningless the term is – will be connected to the Gaza Strip by a tunnel. Its truncated territory will be compensated for partially by Israeli ceding agricultural land in the Negev desert south of Gaza. The “state” will be demilitarized and Israel will continue to control its external borders, airspace and territorial waters. Hamas in Gaza must disarm.
And that is not all! The Palestinians will be required to recognise Israel formally as a Jewish state and curb payments to the families of martyrs and prisoners. In addition, Palestinian citizens of Israel (adjoining the West Bank) may be pressured to move to the new “state.” No refugees will be permitted to return to homes and land that were lost in the Nakba of 1948, even symbolically.
Trump’s deal, prepared by his son-in-law Jared Kushner, reads like a fantasy wish list of the Israeli right. (Kushner’s boast that he had read 25 books on the conflict did not convince anyone that he had any idea what he was talking about.) The president clearly saw it as a helpful distraction from his impeachment proceedings (shortly before his acquittal) and allowing him to boast to his Christian Evangelical supporters that he had done so much for Israel.
Binyamin Netanyahu, the first Israeli prime minister to face corruption charges while in office, who beamed with undisguised pleasure during the White House event, may be protected and boosted by his moment of glory. Whether he will win the country’s third election in early March (after two inconclusive ones last year) is hard to predict.
Reactions have been understandably angry, but it is important to place the plan in historical perspective. Trump’s deal was launched nearly six years after the last peace talks between the two sides. In March 2014, John Kerry, secretary of state in Barack Obama’s second term, threw in the towel after months of shuttling between Netanyahu’s office in Jerusalem and Abbas’s in Ramallah. Obama is rightly criticised by Palestinians for not applying sufficient pressure to the Israeli side. But at least he tried to be fair within familiar constraints!
The Twitterer-in-chief in the Oval Office makes no such claim. His “plan” (inverted commas are entirely justified here too!) is the culmination of a series of moves that show open bias towards Israel and hostility to the Palestinians – from the recognition of Jerusalem as Israel’s capital, the closure of the PLO mission in Washington, recognition of Israel’s annexation of the Golan Heights to the slashing of aid to the refugee agency UNRWA.
The danger is not that the US “plan” will be implemented: the adamant refusal on the Palestinian side, with the unified support of the Arab League means that it is a non-starter. But it may well alter future expectations by shifting the parameters of the issue to downgrade Palestinian hopes of a sovereign and viable state (without the inverted commas) to something closer to autonomy under continued Israeli control.
The risk for Israel, as Olmert warned (as he also did when he was still prime minister from 2006-2008) is that if the Trump deal were implemented it would turn his country into an “apartheid” state like South Africa in the bad old days, attracting increasing international opprobrium. Annexing all the West Bank settlements was the opposite of what Israel should be doing – which, he said, is “to separate ourselves from controlling the Palestinians.”
By Olmert’s own account he and Abbas came close to striking a deal of their own in September 2008. Israel’s prime minister showed the Palestinian president a map but refused to hand it over to him. Abbas sketched the map on a napkin, saying he was unable to decide and needed to consult his colleagues. Olmert urged him to take the pen and sign on the spot because they did not have the option of not resolving the conflict. The historical evidence is unclear. Yet when they meet in New York they will surely look back ruefully at a missed opportunity. Now things are much grimmer. Peace, equality and national self-determination for the two peoples who are doomed to share the land between the river and sea look more remote than ever.
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BENEFIT AGM approves 10%...
- March 27, 2025
BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).
Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.
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